Arconic Inc (ARNC) Expected to Post Earnings of $0.29 Per Share

Equities research analysts forecast that Arconic Inc (NYSE:ARNC) will post $0.29 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Arconic’s earnings. The highest EPS estimate is $0.32 and the lowest is $0.28. Arconic reported earnings per share of $0.31 in the same quarter last year, which would suggest a negative year over year growth rate of 6.5%. The firm is scheduled to issue its next earnings report on Monday, February 4th.

On average, analysts expect that Arconic will report full year earnings of $1.32 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.35. For the next year, analysts forecast that the firm will report earnings of $1.60 per share, with EPS estimates ranging from $1.56 to $1.66. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Arconic.

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Arconic (NYSE:ARNC) last posted its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.48 billion. Arconic had a positive return on equity of 12.94% and a negative net margin of 2.19%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS.

Several equities analysts have weighed in on ARNC shares. Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, August 3rd. Seaport Global Securities reaffirmed a “buy” rating on shares of Arconic in a research note on Wednesday, July 18th. TheStreet raised Arconic from a “d+” rating to a “c-” rating in a research note on Monday, October 15th. Jefferies Financial Group set a $25.00 target price on Arconic and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Cowen reaffirmed a “hold” rating and set a $15.00 target price on shares of Arconic in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Arconic presently has an average rating of “Hold” and a consensus target price of $24.20.

NYSE ARNC opened at $20.77 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.16 and a current ratio of 2.03. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.81 and a beta of 1.22. Arconic has a 1 year low of $16.47 and a 1 year high of $31.17.

The company also recently declared a quarterly dividend, which will be paid on Sunday, November 25th. Investors of record on Friday, November 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.24 annualized dividend and a dividend yield of 1.16%. Arconic’s payout ratio is 19.67%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Investment Management grew its stake in shares of Arconic by 7.5% in the 3rd quarter. Guardian Investment Management now owns 33,687 shares of the basic materials company’s stock valued at $742,000 after buying an additional 2,355 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Arconic by 5.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,745 shares of the basic materials company’s stock valued at $1,033,000 after buying an additional 2,924 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Arconic by 14.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,466 shares of the basic materials company’s stock valued at $516,000 after buying an additional 2,953 shares in the last quarter. Bell & Brown Wealth Advisors LLC grew its stake in shares of Arconic by 17.8% in the 2nd quarter. Bell & Brown Wealth Advisors LLC now owns 20,142 shares of the basic materials company’s stock valued at $343,000 after buying an additional 3,050 shares in the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of Arconic by 22.1% in the 2nd quarter. Intact Investment Management Inc. now owns 17,700 shares of the basic materials company’s stock valued at $301,000 after buying an additional 3,200 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.